Dilip Kumar Gupta (Practicing CA) (39 Points)
26 August 2010Dear All,
Fact of Case: A Private Limited Company having Rs. 1 crs. of paid up share capital and Rs. 2 crs. of reserves & surplus. The Company is in the process of conversion into LLP. The company is registered in Mumbai ROC and will be remain in preview of Mumbai ROC.
Query: Whether stamp duty on conversion is payable. What is incidence of that? If yes, at what rate or what is slab for that?
Riddhi Jain
(Chartered Accountant)
(120 Points)
Replied 31 January 2012
No Stamp Duty is to be paid
All movable and immovable properties of the company automatically vest in the LLP. No instrument of transfer is required to be executed and hence no stamp duty is required to be paid.
DR GAURAV GUPTA FCA, FCS, LL.B
(COMPANY SECRETARY)
(1046 Points)
Replied 02 July 2012
CAclubindia
